br Shell is a global player in the energy sector and was particularly affected by the recent economic crunch and the extreme fluctuations in crude oil prices . Despite this , the company maintained its focus towards long term growth . In view of this long term focus the company could expand operations in developing countries using its superior technical capabilities to control a large part of the market JORMA OLLILA As given in the Chairman 's message from the 2009 Annual Report , the global recession of 2009 resulted in the lowest levels of demand
As given in the Chairman 's message from the 2009 Annual Report , the global recession of 2009 resulted in the lowest levels of demand
for oil since 1982 , as well as the lowest consumption of natural gas in the European Union ever . Margins in the refining and petrochemical business were greatly affected , and financing activities were reduced as not only banks but countries as well felt the impact on their treasuries . But Shell continued its spending on capital development as testimony to its long term view , whilst restructuring itself to remain competitive in the new global environment without diluting the talent pool within
It is believed that the recovery will revive growth for energy in the world , especially in the developing countries , to stay in line with the trend towards rising population and wealth . Largely a cause of the growth of a few Asian countries as well as the introduction of stimulus packages , the recovery is still dampened by the unemployment and low consumer demands in the US and Europe
Along with the expected revival of demand for energy , the overall trend is...